Armenia to stop labeling alcoholic products as "cognac" with EU fundingJune 10, 2021 - 14:55 AMT PanARMENIAN.Net - The European Union is ready to provide €3 million to Armenia for the country to stop using the name "cognac" when labeling its famous alcoholic products, an agreement on financial support approved by the government on Thursday, June 10 reveals. The purpose of the agreement is to phase out the use of a specific geographic name. Armenia should now use the funds to ensure a smooth transition to a new name, develop a new brand for the Armenian drink, advertise and stimulate the use and distribution of the new name, as well as achieve the preservation of the position and competitiveness of the new Armenian brand in foreign markets. The requirement to relinquish the name "cognac" is envisaged by the Comprehensive and Enhanced Partnership Agreement signed by Armenia and the EU in November 2017, which came into force on March 1, 2021. According to the same document, Armenia should also abandon the name "champagne". The country has been given 14 years in the local market and 25 years abroad to give up "cognac", as well as two years in the local market and three years in the international market for "champagne". Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia to participate in key EU meeting for the first time ever National Assembly speaker Alen Simonyan has said that Armenia will for the first time participate in the Conference. U.S. reacts to Russia’s criticism of upcoming Armenia-EU-U.S. meeting Matthew Miller has weighed in on Russia’s criticism of an upcoming Armenia-EU-U.S. meeting. Lavrov sees ‘collapse’ of Russia’s ties with Armenia Russian Foreign Minister Sergey Lavrov has underscored heightened tensions between Russia and Armenia. Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine |